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Essay On Democracy And Economic Growth

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Democracy and Economic Growth

Can China thrive without it and India under it?

Srishti Rastogi

V003616

Abstract
China’s rise in the past thirty years questioned the western belief that liberal democracy was the only form of governance which can deliver sustainable economic growth and development. Under the authoritarian rule, China delivered unparalleled growth and seemingly invalidated the claim that democracy creates long term prosperity and is superior. Against this context, India, with its vital electoral system but low economic progress was seen as the appropriate nation for measuring the democracy’s impact on the economic growth and development. Today, with China’s growth rate been plummeted by nearly half since the beginning …show more content…

In the last century, the amount of countries that have turned democratic has increased from less than fifteen in 1900 to more than 123 in 2013. (Ziomek 2013) In the late 20th century, the descend of Communism was viewed as a victory for liberal democracy. However, China’s rise in the last three decades has casted the doubt on the prevalence of democratic governance, in terms of making economic progress, since China has delivered a significant GDP growth for decades now.

India, however, remained a developing nation that did not exhibit economic progress from its democracy. Today apparently, the developing countries possess a choice of rejecting liberal democracy without dismissing the economic progress, by following the authoritarian model of development as that of China. However, as China has been witnessing a slow growth and is struggling to reinvent its economy, while maintaining its authoritarian political establishments, the question of the role of democracy and freedom in economic progress has resurfaced.

Whereas, India’s economic growth has began to rise under a new government. Therefore, understanding how democracy impacts growth seems to be crucial for the likely economic path of emerging nations like India and China and for the continued growth of democracy in the

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